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HomeForex NewsAustralia News Today: MQG FX trade losses; RBA challenge; Carbon credits

Australia News Today: MQG FX trade losses; RBA challenge; Carbon credits

Hi all, it’s Jackie here in Sydney. Macquarie is staring down losses of tens of millions on FX trades with an Italian builder. But first…

Today’s must-reads:
• RBA’s key challenge this year
• Carbon credit market avoids revamp
• China’s rare-earths rivalry

Macquarie says it’s facing a $49 million loss after currency derivatives trades with Italian builder Cimolai went awry. The bank joins a growing number of finance firms pursuing Cimolai for money they claim is owed from derivatives linked to the euro-dollar exchange rate, which fell to its lowest level in about two decades in September.

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